Foreign firms in running for UK banknote printing job

An overseas company could seize control of the country’s banknote production under a new £1billion Bank of England contract.

Official tender documents for the 14-year deal to print all the Bank’s notes have been sent to interested bidders and could end Basingstoke-based De La Rue’s involvement since 2003.

Landqart, the banknote division of Fortress Paper, the Canadian wallpaper and pulp company, and Note Printing Australia, a division of the Reserve Bank of Australia, are thought to be interested bidders.

Money maker: The winning bidder will be responsible for printing more than 12billion banknotes until 2029

But a De La Rue spokesman said the group was keen to win the new tender and it had a good relationship with the Bank.

He said: ‘We currently are a UK
manufacturing operation and we want to retain business in the UK and we
are very keen to win the tender.’